Pediatrix Medical Group (NYSE:MD) Hits New 52-Week High on Better-Than-Expected Earnings

Pediatrix Medical Group, Inc. (NYSE:MD)’s share price reached a new 52-week high on Monday following a better than expected earnings announcement. The stock traded as high as $19.87 and last traded at $19.5120, with a volume of 46091 shares changing hands. The stock had previously closed at $16.97.

The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.11. Pediatrix Medical Group had a net margin of 5.66% and a return on equity of 18.94%. The firm had revenue of $468.84 million during the quarter, compared to analyst estimates of $464.37 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MD. Zacks Research downgraded shares of Pediatrix Medical Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Pediatrix Medical Group in a report on Wednesday, October 8th. UBS Group boosted their price target on shares of Pediatrix Medical Group from $16.00 to $16.50 and gave the company a “neutral” rating in a report on Thursday, August 14th. Truist Financial set a $17.00 price target on shares of Pediatrix Medical Group in a report on Tuesday, October 14th. Finally, Leerink Partners boosted their price target on shares of Pediatrix Medical Group from $14.50 to $17.00 and gave the company a “market perform” rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $17.25.

Institutional Investors Weigh In On Pediatrix Medical Group

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Pediatrix Medical Group by 219.5% in the 1st quarter. GAMMA Investing LLC now owns 2,569 shares of the company’s stock valued at $37,000 after acquiring an additional 1,765 shares during the last quarter. Marshall & Sullivan Inc. WA bought a new stake in Pediatrix Medical Group during the second quarter worth approximately $41,000. Canada Pension Plan Investment Board bought a new stake in Pediatrix Medical Group during the second quarter worth approximately $83,000. AlphaQuest LLC boosted its position in shares of Pediatrix Medical Group by 16.0% in the first quarter. AlphaQuest LLC now owns 5,877 shares of the company’s stock valued at $85,000 after acquiring an additional 811 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Pediatrix Medical Group in the second quarter valued at approximately $99,000. 97.71% of the stock is owned by institutional investors and hedge funds.

Pediatrix Medical Group Stock Up 24.6%

The firm has a 50-day moving average price of $16.92 and a two-hundred day moving average price of $14.89. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.84 billion, a P/E ratio of 16.39 and a beta of 1.26.

About Pediatrix Medical Group

Pediatrix Medical Group, Inc, together with its subsidiaries, provides newborn, maternal-fetal, pediatric cardiology, and other pediatric subspecialty care services in the United States. It offers neonatal care services, such as clinical care to babies born prematurely or with complications within specific units at hospitals through neonatal physician subspecialists, neonatal nurse practitioners, and other pediatric clinicians.